Inequality, welfare and monotonicity

Yoram Amiel and Frank Cowell ()

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: We stablish a general relationship between the standard form of the individualistic social-welfare function and the "reduced-form" version that is expressed in terms of inequality and mean income. This shows the relationship between the property of monotonicity and the slope of the equity-efficient trade-off. Particularly simple results are available for a large class of inequality measures that includes the Gini. These results do not require differentiability of the social-welfare function.

Keywords: Inequality; social welfare; monotonicity (search for similar items in EconPapers)
JEL-codes: C13 D63 (search for similar items in EconPapers)
Pages: 21 pages
Date: 1997-02
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Related works:
Working Paper: Inequality, Welfare and Monotonicity (1997)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:2222

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